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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.90

+0.9%

Nov 18 4:00 PM EST

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To: russwinter who wrote (81931)	2/12/2002 10:36:43 PM
From: goldsheet	Read Replies (1) of 116762

The huge expansion at Yanacocha will make up for many mine closures: "In 2001, Yanacocha in Peru sold 1.9 million ounces (983,000 equity ounces) of gold, a 9 percent increase over 2000, at a total cash cost of $115 per ounce. Yanacocha's first crushing and agglomeration facility for the La Quinua deposit started up late in the third quarter and will continue to undergo commissioning adjustments through the first half of 2002, gradually stepping up to its design rate of 132,000 tons per day (120,000 metric tons per day) by the end of June. La Quinua is expected to reach production of one million ounces annually in 2003 to help Yanacocha reach its production goal of 2.5 million ounces annually in 2004."

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